Company name
Megacale Holdings S.A.B. de C.V. and its subsidiaries
Project number
13229-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Mexico
Sector
Digital Economy
Status
Hold
Disclosed date
03/19/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/29/2021
Approval date
07/29/2021
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 25,098,100
Currency
MXN
Project scope and objective
The transaction consists of a revolving, uncommitted credit facility to be provided by IDB Invest to Megacable Holdings S.A.B. de C.V. and its subsidiaries (“Megacable”), for an amount of US$20 million (the “Transaction”). IDB Invest will purchase from and discount to the supplier’s credit rights payable by Megacable, previously confirmed by the latter, through an eligible electronic platform.
Megacable is a Mexican cable operator and provider of internet and phone service. Its supply pool in Mexico is comprised of over 5,000 suppliers, mostly Micro, Small, and Medium-sized Enterprises (MSMEs).
Through this Transaction, IDB Invest seeks to facilitate access to financing to Megacable’s MSMEs suppliers in Mexico, through the discount or monetization of credit rights arising from the sale of goods and/or services of MSMEs suppliers to Megacable.
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Contact information
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Client Contact
IDB Invest Contact
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing [email protected] or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to [email protected] or [email protected] or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
MEGACABLE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) MARCH - 2021
307.2 Kb
MEGACABLE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) MARCH 2021
286.7 Kb